EconPapers    
Economics at your fingertips  
 

The effect of population aging on aggregate labor supply in the United States

Bruce Fallick and Jonathan Pingle ()

No 52 in Monograph from Federal Reserve Bank of Boston

Abstract: Output growth is determined by growth in labor productivity and growth in labor input. Over the past two decades, technological developments have changed how many economists think about growth in labor productivity. However, in the coming decades, the aging of the population will change how economists think about the growth in labor input in the United States. As the oldest baby boomers born in 1946 turned 50, then 55, and then 60, an important economic change has slowly surfaced: these people have become less likely to participate in the labor force. While this shift was obscured by a labor market slump in 2002, the aging of the American population began to put downward pressure on aggregate labor supply, marking the start of what is likely to be a sharp deceleration in labor input that will last another half-century.

Keywords: Labor supply; Baby boom generation (search for similar items in EconPapers)
Date: 2007
References: View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Labor supply in the new century

Downloads: (external link)
http://www.bostonfed.org/economic/conf/conf52/conf52b.pdf (application/pdf)

Related works:
Journal Article: The effect of population aging on aggregate labor supply in the United States (2007) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedbmo:2007teopaoalsitu

Ordering information: This item can be ordered from

Access Statistics for this book

More books in Monograph from Federal Reserve Bank of Boston Contact information at EDIRC.
Bibliographic data for series maintained by Catherine Spozio ().

 
Page updated 2025-03-30
Handle: RePEc:fip:fedbmo:2007teopaoalsitu